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CBO reports annually to the Congress on programs funded for the current fiscal year for which authorizations of appropriations have expired, and programs for which authorizations of appropriations will expire during the current fiscal year.

CBO must issue a report that provides estimates of the caps on discretionary budget authority in effect for each fiscal year through 2021. CBO estimates that the appropriations enacted for this year have not exceeded the 2015 caps.

The federal program that provides insurance against the risk of terrorism expired at the end of 2014. CBO has examined various options for the program and their likely effects on the private sector and on the federal government.

On average, the effective marginal tax rate on capital income is 18 percent, but that rate varies significantly by sector. In this report, CBO estimates effective rates under current law and eight policy options.

CBO analyzed possible transitions to four alternative market structures that involve choices about whether and how the government would continue to guarantee payment on mortgages and mortgage-backed securities.

We are excited to announce the launch of several enhancements to our website! These new pages are designed to make it easier to find reports with policy options—for changing federal tax and spending policies—and to find answers to FAQs.

CBO estimates that the cost of the Navy’s 2015 shipbuilding plan—an average of about $21 billion per year (adjusted for inflation) over 30 years—would be one-third higher than the funding that the Navy has received in recent decades.